News

First drop in gold price since Brexit ‘likely to spur jewellery demand’

The price of gold has fallen for the first time since the Brexit announcement in June, dropping 3% to $1,300 per ounce on 4 October. Consumers and investors may see the price decline as a good buying opportunity, according to the latest report from the World Gold Council (WGC). It…

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Diamond prices stable in September

The diamond market was steady in September with better-than-expected sentiment at the Hong Kong Jewellery & Gem Fair. The latest RapNet Diamond Index (RAPI) from the Rapaport Group found the polished market was supported by “relatively high” rough prices as suppliers held polished prices firm, preferring to delay sales rather…

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UK jewellers consider legal challenge to BAO over Indian hallmarking

A group of jewellers and silversmiths in the UK are considering a legal challenge to the Birmingham Assay Office over its practice of using UK hallmarking overseas. The news comes after the Birmingham and Sheffield Assay Offices’ marks have been approved by the British Hallmarking Council for use in their…

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De Beers’ rough diamond sales ‘ahead of expectations’

The De Beers Group of Companies has reported that sales of rough diamonds were “ahead of expectations” in its eighth sales cycle of the year. Provisional sales for the company’s eighth sales cycle of 2016 stood at $485m (£379m). This was down on the $639m (£500m) raised in its seventh…

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NAJ unveils awards shortlist

The National Association of Jewellers (NAJ) has unveiled the shortlist for its annual awards, which celebrate the contribution of itsmembers to the jewellery industry. New to awards this year is the category ‘Workshop Employee of the Year’, which aims to recognise the importance of specialist skills in the industry and…

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£16,000 of jewellery stolen from Suffolk jewellers

Some £16,000 worth of jewellery has been stolen from a jeweller in Suffolk after a man and woman entered the store and distracted staff. The robbery took place at The Amber Shop in Southwold’s Market Place at around 2:20pm on Friday, 30 September. The pair made off with bangles, necklaces,…

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Peterborough jewellers to close after 90 years in business

An independently-owned jewellery store in Peterborough’s city centre is to close down after 90 years in business. Charles Bright the Jewellers will shut following a “huge” closing down sale and all the stock has been sold, according to the Peterborough Telegraph. The shop, was originally opened by jeweller and watchmaker…

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ACID launches campaign to create new UK unregistered design law

Design and intellectual property (IP) lobbyist body Anti-Copying in Design (ACID) is spearheading a campaign to create a new UK unregistered design law. The campaign will aim to ensure that UK designers are not disadvantaged by any erosion or loss of access to EU design rights – both registered and…

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Retail sales fall in September but growth expected to return next month

Retail sales volumes fell in the year to September following last month’s increase, according to the latest CBI monthly Distributive Trade Survey. The survey of 120 firms, of which 63 were retailers, showed that the volume of sales fell, despite expectations last month that sales would be largely unchanged. However,…

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Links of London owner posts strong results for H1 2016

The FF Group – owner of watch and accessory brands Links of London and Folli Follie – has posted strong first-half results despite an “adverse global environment”. Consolidated revenues for the group reached €653m (£567m), compared with €594m (£516m) in the same period of 2015 – an increase of 9.8%.…

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